2011م - 1444هـ
MARKET ANALYSIS OF

HISTORIC GAS STATION PROPERTY

by

Russ Kashian

&

Renee Pfeifer‐Luckett

Fiscal and Economic Research Center

University of Wisconsin – Whitewater

Hyland Hall

August 2010

Contributors:

Principal Researchers

Russell Kashian

Renee A. Pfeifer‐Luckett

Justin J. Kasper

Data Administration and Auditing

Christie Kornhoff, Administrative Assistant

Table of Contents Page

Introduction 1

Historical Overview 1

Location Overview 1‐2

Literature Review of Historic Service Station Renovation 2‐4

Current Economic Outlook for Janesville 4‐5

Funding Renovation & Redevelopment 5‐6

Wisconsin Historic Preservation Tax Incentives

Tax Incremental Financing

Situation Analysis 6‐7

Conclusion 7

Appendices:

Appendix A: Business Located Near Franklin & Wall Streets (two‐block radius) 9

Appendix B: Current Use of Historic Gas Stations (90 mile radius of Janesville) 10

Appendix C: Wisconsin Economic Outlook, August 2010 (attachment)

Appendix D: Wisconsin Historical Society ‐ Historic Preservation Tax Incentives (attachment)

Appendix E: Wisconsin Historical Society ‐ Guidelines for Planning Historic (attachment)

Preservation Tax Credit Projects

‐iIntroduction

This market study for the Standard Oil “Super‐Service Station” property located in downtown

Janesville Wisconsin was prepared to provide information to those interested in making productive and

profitable use of property. Included in the market analysis is an overview of the property and it’s location,

a literature review revealing how like properties have been managed in other communities, an economic

outlook for Janesville, and a discussion of property renovation funding opportunities. Lastly, this report

provides a situation analysis or “SWOT” of repurposing the gas station property.

Historical Overview

On the corner of Franklin and Wall Street in downtown Janesville resides an historic – yet

currently vacant – 1930’s Spanish Colonial‐style Standard Oil Service Station. The L‐shaped building

includes details such as decorative tile insets and red‐clay‐tile, as well shed‐roofed parapets that resemble

the tile roofs of typical Spanish Colonial homes of the era. Standard Oil originally constructed this brick

super‐service station in an effort to take advantage of a prime location on the city’s main thoroughfare,

Route 14 (now Business Route 14).

Built as a “super‐service station,” Standard Oil consolidate a number of automobile‐related

activities under one roof and created an attractive “one‐stop shop” for customers The former superservice

station housed a sizable showroom to display the newest product lines of tires, batteries, and

other automobile accessories. By expanding the products and services sold, the visibility of the business

increased and the super station was able to generate supplementary income. A high degree of

competitive pressure, coupled with the turbulent economy of the Great Depression, forced petroleum

retailers such as Standard Oil to provide a wide variety of reliable products and services to their customers

in order to create a competitive advantage in the marketplace. In this regard, Janesville’s super‐service

station once offered practically any product or service needed to maintain an automobile of the time –

from brakes and tires to oil changes and washing. The large service bays were outfitted with latest

equipment of the era, including hydraulic lifts (instead of pits), machines to repair tire tubes, and

specialized equipment for changing car batteries.

Standard Oil’s super‐service station in downtown Janesville housed tire‐ and automobile‐related

businesses throughout its existence, with the exception of a period in the late 1970’s when it was vacated

for several years. In the early 1980’s, H&H Automotive took over operations and continued to occupy the

super‐service station for more than twenty years. In 2002, new Janesville police facilities were proposed

to be built on the site of the historic service station; however, the building survived the threat of

demolition. The City of Janesville now owns the building.

Despite the fact that the Standard Oil super‐service station is eligible for listing on the National

Register of Historic Places, the future of building has once again come into question (2008 Wisconsin

Historical Society Press). Furthermore, the gas station has gained significant notoriety “online,” and is

prominently featured on the blog “Fuelish Thoughts: Wisconsin Gas Stations” (visit

http://fuelishthoughts.blogspot.com/).

Location Overview

The City of Janesville is considering the renovation of the 1930’s super‐service station by

appropriate investors/developers. Since the building, which is located in what some would consider the

“center of city government,” currently crowds the east wall of the police station. Due to its location, the

building also runs the risk of being torn down to provide additional parking or green space. However, due

to the building’s historic significance and interesting architectural features, renovation of the building by

an appropriate investor/developer is an attractive alternative.

‐1‐

Franklin